Holiday Movies Inc. has two bond issues outstanding with the following data:
Bond Issue A Bond Issue B
Face Value 1000 1000
Current Price 97 102
Coupon Rate 5% 7%
Payable Annually Semiannually
Years to maturity 6 12
# Outstanding 2000 6000
What is the yield to maturity on Bond A? ______________
What is the yield to maturity on Bond B? ______________
What is the market value weight (percentage) on Bond A? _____________
What is the market value weight (percentage) on Bond B? _____________
What is the weighted average cost of debt? _____________
In: Finance
Required information
[The following information applies to the questions displayed below.]
The following data were provided by Mystery Incorporated for the year ended December 31:
| Cost of Goods Sold | $ | 156,000 | |
| Income Tax Expense | 15,120 | ||
| Merchandise Sales (gross revenue) for Cash | 222,000 | ||
| Merchandise Sales (gross revenue) on Credit | 38,400 | ||
| Office Expenses | 18,100 | ||
| Sales Returns and Allowances | 6,510 | ||
| Salaries and Wages Expense | 36,600 | ||
2-a. What was the amount of gross profit?
2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.)
In: Accounting
Last Chance Mine (LCM) purchased a coal deposit for $1,334,750. It estimated it would extract 14,050 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.01 million, $4 million, and $2.9 million for years 1 through 3, respectively. During years 1–3, LCM reported net income (loss) from the coal deposit activity in the amount of ($13,800), $592,500, and $522,500, respectively. In years 1–3, LCM actually extracted 15,050 tons of coal as follows: (Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.)
| (1) | (2) | Depletion (2)/(1) | Tons Extracted per Year | |||
| Tons of Coal | Basis | Rate | Year 1 | Year 2 | Year 3 | |
| 14,050 | $1,334,750 | $95.00 | 3,600 | 7,550 | 3,900 | |
a. What is LCM's cost depletion for years 1, 2, and 3?
b. What is LCM's percentage depletion for each year (the applicable percentage for coal is 10 percent)?
c. Using the cost and percentage depletion computations from parts (a) and (b), what is LCM’s actual depletion expense for each year?
In: Accounting
In: Accounting
Last Chance Mine (LCM) purchased a coal deposit for $2,883,500. It estimated it would extract 18,250 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.30 million, $8.35 million, and $6.2 million for years 1 through 3, respectively. During years 1–3, LCM reported net income (loss) from the coal deposit activity in the amount of ($10,400), $520,000, and $282,500, respectively. In years 1–3, LCM actually extracted 19,250 tons of coal as follows: (Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.)
| (1) | (2) | Depletion (2)/(1) | Tons Extracted per Year | |||
| Tons of Coal | Basis | Rate | Year 1 | Year 2 | Year 3 | |
| 18,250 | $2,883,500 | $158.00 | 4,450 | 10,400 | 4,400 | |
a. What is LCM's cost depletion for years 1, 2, and 3?
b. What is LCM's percentage depletion for each year (the applicable percentage for coal is 10 percent)?
c. Using the cost and percentage depletion computations from parts (a) and (b), what is LCM’s actual depletion expense for each year?
In: Accounting
| Chapter 5: Applying Excel | ||
| Data | ||
| Beginning work in process inventory: | ||
| Units in process | 500 | |
| Completion with respect to materials | 25 | % |
| Completion with respect to conversion | 60 | % |
| Costs in the beginning work in process inventory: | ||
| Materials cost | $5,672 | |
| Conversion cost | $20,806 | |
| Units started into production during the period | 11,400 | |
| Costs added to production during the period: | ||
| Materials cost | $513,013 | |
| Conversion cost | $772,154 | |
| Ending work in process inventory: | ||
| Units in process | 500 | |
| Completion with respect to materials | 10 | % |
| Completion with respect to conversion | 80 | % |
If your formulas are correct, you should get the correct answers to the following questions.
(a) What is the equivalent units of production for materials?
(b) What is the equivalent units of production for conversion?
(c) What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.)
(d) What is the cost per equivalent unit for conversion?
(Round your answer to 2 decimal places.)
(e) What is the cost of the units transferred out?
(Round your cost per equivalent unit to 2 decimal
places.)
Requirement 3:
Either print a copy of your worksheet or make a copy of the worksheet in your workbook before proceeding. You will need to refer back to this worksheet.
Change the percentage completion with respect to conversion for the beginning inventory from 60% to 70%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this:
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If your formulas are correct, you should get the correct answers to the following questions.
(a) What is the equivalent units of production for
materials?
(b) What is the equivalent units of production for
conversion?
(c) What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.)
(d) What is the cost per equivalent unit for conversion?
(Round your answer to 2 decimal places.)
(e) What is the cost of the units transferred out? (Round your cost per equivalent unit to 2 decimal places.)
(f) Which of the following statements are true? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
In: Accounting
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In: Accounting
Does it take a different amount of time for seeds to germinate if they are near rock music that is continuously playing compared to being near classical music? The 53 seeds that were exposed to rock music took an average of 28 days to germinate. The standard deviation was 11 days. The 40 seeds that were exposed to classical music took an average of 32 days to germinate. The standard deviation for these seeds was 11 days. What can be concluded at the αα = 0.05 level of significance?
H0:H0: Select an answer p1 μ1 ? < = ≠ > Select an answer μ2 p2 (please enter a decimal)
H1:H1: Select an answer p1 μ1 ? ≠ < = > Select an answer p2 μ2 (Please enter a decimal)
In: Statistics and Probability
The enhancers that are present near a gene are present in every cell in an organism, yet these enhancers can have tissue-specific effects on gene expression. Explain how enhancers could have tissue-specific effects on gene expression.
In: Biology
The new Fore and Aft Marina is to be located on the Ohio River near Madison, Indiana. Assume that Fore and Aft decides to build a docking facility where one boat at a time can stop for gas and servicing. Assume that arrivals follow a Poisson probability distribution, with an arrival rate of 8 boats per hour, and that service times follow an exponential probability distribution, with a service rate of 10 boats per hour. The manager of the Fore and Aft Marina wants to investigate the possibility of enlarging the docking facility so that two boats can stop for gas and servicing simultaneously.
A. What is the probability that the boat dock will be idle? Round your answer to four decimal places.
P0=
B. What is the average number of boats that will be waiting for service? Round your answer to four decimal places.
Lq=
C. What is the average time a boat will spend waiting for service? Round your answer to four decimal places.
Wq=
D. What is the average time a boat will spend at the dock? Round your answer to four decimal places.
W=
E. If you were the manager of Fore and Aft Marina, would you be satisfied with the service level your system will be providing? Round your answers to whole numbers.
Because the average wait time is ____ seconds. Each channel is idle ____ % of the time.
In: Statistics and Probability